Hedge Funds Are Buying Acadia Realty Trust (AKR)

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Acadia Realty Trust (NYSE:AKR) was in 8 hedge funds’ portfolio at the end of March. AKR investors should pay attention to an increase in support from the world’s most elite money managers lately. There were 5 hedge funds in our database with AKR holdings at the end of the previous quarter.

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With all of this in mind, it’s important to take a glance at the key action surrounding Acadia Realty Trust (NYSE:AKR).

What does the smart money think about Acadia Realty Trust (NYSE:AKR)?

In preparation for this quarter, a total of 8 of the hedge funds we track were bullish in this stock, a change of 60% from the previous quarter. With hedge funds’ sentiment swirling, there exists a select group of notable hedge fund managers who were increasing their stakes significantly.

Acadia Realty Trust (NYSE:AKR)According to our comprehensive database, Ken Fisher’s Fisher Asset Management had the largest position in Acadia Realty Trust (NYSE:AKR), worth close to $33.4 million, comprising 0.1% of its total 13F portfolio. Coming in second is Balyasny Asset Management, managed by Dmitry Balyasny, which held a $6.5 million position; 0.1% of its 13F portfolio is allocated to the company. Other hedge funds with similar optimism include Israel Englander’s Millennium Management, Jim Simons’s Renaissance Technologies and Matthew Tewksbury’s Stevens Capital Management.

As aggregate interest increased, key money managers have jumped into Acadia Realty Trust (NYSE:AKR) headfirst. Balyasny Asset Management, managed by Dmitry Balyasny, initiated the most valuable position in Acadia Realty Trust (NYSE:AKR). Balyasny Asset Management had 6.5 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also initiated a $0.8 million position during the quarter. The only other fund with a new position in the stock is Ken Griffin’s Citadel Investment Group.

How are insiders trading Acadia Realty Trust (NYSE:AKR)?

Insider purchases made by high-level executives is at its handiest when the company we’re looking at has experienced transactions within the past 180 days. Over the latest half-year time period, Acadia Realty Trust (NYSE:AKR) has experienced zero unique insiders buying, and 8 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Acadia Realty Trust (NYSE:AKR). These stocks are CoStar Group Inc (NASDAQ:CSGP), Rouse Properties Inc (NYSE:RSE), FirstService Corporation (USA) (NASDAQ:FSRV), DuPont Fabros Technology, Inc. (NYSE:DFT), and Kennedy-Wilson Holdings Inc (NYSE:KW). All of these stocks are in the property management industry and their market caps match AKR’s market cap.

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